Despite the drop in sales in the third quarter, car manufacturers are confident of a reaction at the end of the year; interest and inventories remain a concern
The manufacturers’ association acknowledges that the market for light and heavy vehicles has cooled compared to previous quarters. License plates increased 7.2% in the first quarter and 2.9% in the second. However, from July to September they decreased by 0.4%. In the first nine months of 2025, sales grew just 2.8%. The last quarter is usually the best of the year and Anfavea still sees the possibility that the year will end with a 5% increase compared to 2024.
This year, high interest rates, to control off-target inflation, remain at high levels, making payments more expensive. However, Igor Calvet, president of the entity, prefers to be more optimistic, although he does not rule out growing difficulties. “I recognize the challenge of a notable sales recovery in the last quarter, considering an excellent comparative base at the end of last year,” he assessed.
There is Chinese working capital to avoid taxes!
Inventories are at normal levels (26 days) for vehicles produced in Brazil. Imported models represent 136 days in stock. Anfavea did not comment, but this atypical volume concerns, for the most part, BYD models to avoid the staggered increase in import taxes on electric and hybrid vehicles. There is Chinese working capital…
Fenabrave was more reserved. Now, in October, it was pointing to a 2.6% increase from last year, to the end of 2025. As recently as June, it was still maintaining its forecast of 5% growth. Cars and light commercial vehicles are expected to perform slightly better (3% more than in 2024). Arcélio Santos Jr, president of the body, estimated that the interruption of Toyota production (read below) could be absorbed by other brands, while regretting the misfortune that occurred.
Source: Terra
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